本論文主要討論若公司收到會計師出具繼續經營有疑慮查核意見後對長期投資績效及營運績效是否有影響，研究期間為1989年1月1日至2008年12月31日止，共計篩選出67筆樣本。其中，長期投資績效研究方法採用累積異常報酬法(CAR)、買進持有異常報酬法(BHAR)、曆月投資組合法(CTAR)及因子模式曆月投資組合法(CT-FAT)等四種不同之異常報酬衡量方法。長期營運績效評估方式則採用由杜邦方程式所衍生之五種財務指標作為衡量依據，此五種財務指標分別為總資產報酬率(ROA)、股東權益報酬率(ROE)、純益率(ROS)、總資產週轉率(SALETA)及權益乘數(TATE)，並搭配自身移動及同產業等二種不同基準，進行差異性分析。歸納其結論如下：1.長期投資績效四種長期異常報酬衡量方法，對於公司收到會計師出具繼續經營有疑慮查核意見後之股票長期平均投資績效並未能獲得一致之檢定結論，但本研究似乎可推論當投資者長期持有(三年)該公司股票時，其可獲取不算差之正的平均異常績效。2.長期營運績效公司收到會計師出具繼續經營有疑慮查核意見後，其獲利能力皆比同業為低。而在經營效率方面，與同業比較並無顯著之差異，以及相對於同產業其償債能力則較差。This study mainly analyzes the impact of corporation receive going-concern opinions long-term performance in Taiwan during the period from 1989 to 2008 by using the data of 67companies. In order to research the long-term investment performance, we use four different kinds of methods to estimate abnormal returns, including CAR, BHAR, CTAR and CT-FAT. On the other hand, we use the DuPont formula to estimate the long-term operational performance. The empirical findings show that：1. Long-term investment performance： Although the performance estimated through the previous four methods failed to make consistent conclusions, but we seem can conclude that investors can earn more abnormal returns if they hold the stock longer (more than 3 years).2. Long-term operational performance：Those companies which are received a going concern related audit opinion can not bring the corporation’s profitability up. As for operational efficiency, they make no difference to the average level. In debt-paying ability, they are worse than the average of the same industry.